Lies, Lies & More Lies from the Financial Press


Armstrong Economics Blog/Press Re-Posted Oct 15, 2021 by Martin Armstrong

COMMENT: Marty; the Fed quietly published the banks it was funding in the Repo Crisis. I just wanted to say, you are always right. The press claimed it was tax time, but you said it was the crisis in European banks. Your sources are always spot on. Thanks for the light of truth.

PG

REPLY: Yes, that story that the liquidity crisis occurred because US corporations withdrew large amounts from the banks in order to make quarterly tax payments was the most absurd propaganda I ever heard. Why then do we not see the same liquidity crisis event during tax season?

The bulk of the loans covered foreign banks, as well as Goldman Sachs and JPMorgan Securities. It was all driven by the simple fact that Merkel said there would be no bailout for Deutsche Bank, which was the major derivatives counterparty problem involving Wall Street. Deutsche Bank had a major derivatives book, and if it failed, it would have taken down US banks. Deutsche Bank was in crisis and then it was too big to merge with Commerzbank. They had to lay off nearly 20,000 staff and a major effort was undertake to try to isolate its toxic assets.

That is why the Fed had to step in as the market maker to bail out Europe for US banks all backed off. I really do not know who makes up these stories to try to hide the truth. But they always do in hopes of preventing panics. This time, the game is up.

Inflation is Hitting Every Sector – Not Transitory


Armstrong Economics Blog/Hyperinflation Re-Posted Oct 13, 2021 by Martin Armstrong

COMMENT: All these increased demands for my product is great, but it comes with quite a wholesale flower prices have also increased significantly making the cost of the arrangements much higher. Wholesale rose prices have jumped 56%. Last year I could buy a pack of 25 roses for $18, where today they cost $28. I have to pass these costs onto my customers, but even with the increased cost people are still buying more flowers this year than the same time last year.

SH

REPLY: Thank you for this info. It is hard to find any industry that is not suffering from a shortage of supply.

September Jobs Report Badly Misses Expectations With 194,000 Jobs Created vs 500,000 Expected


Posted originally on the conservative tree house on October 8, 2021 | Sundance | 235 Comments

The Bureau of Labor Statistics (BLS) has released the September jobs report [DATA HERE] showing a dismal 194,000 jobs added against a financial media and Wall Street expectation of 500,000 jobs.  [CNBC Apoplectic]   The labor participation rate in the worker economy overall has not moved since Biden’s inauguration, and stands at 61.6%.

Digging into the numbers, what is happening is exactly what we ¹should expect.  Outside the immediacy of private sector durable goods retailers seeing a pull back in consumer purchasing due to inflation (which we continue to point out is the critical issue); the local economies impacted by a declining tax base are key early indicators of contracting economic activity.  Wage gains are not keeping up with inflation.

Inside the data, you will note [Table B-1] a significant decline in Local Government Education of -144,000 jobs.  Obviously the collapse of in-school teaching leads to less jobs in this sector overall. However, the drop happened at the exact same time students were returning to a new school year, and this drop is also reflected year-over-year.  Schools were impacted by COVID in Sept 2020 more than schools are impacted by COVID in Sept 2021, yet this year the jobs are completely gone.  Something bigger is happening in this sector.

Additionally, healthcare services show a major drop in employment (-37k) specifically as it relates to elderly care and nursing homes.   All the sub-sectors of elder care are significantly lower in employment.

Retail was essentially flat (+56k) considering the scale of the sector; and durable goods within the retail sector show declines in employment.  Again this would indicate less consumer spending on durable goods, as food and energy inflation are prioritizing spending habits.  Leisure and Hospitality (+74k) with hotels and restaurants doing the majority of the hiring as the rebound in this sector continues.

[¹Here it is important to note a slow cascade effect that will take time and we are not near the peak of the trouble yet. As a historic reminder, the epicenter of the peak financial crisis (housing) was triggered in Nov/December 2005.  However, the trouble was not visible on a national scale until 2007.    Economic data shows the current triggering event took place in May/June of this year.  Make of that what you will]

(CNBC) […] The U.S. economy created jobs at a much slower-than-expected pace in September, a pessimistic sign about the state of the economy though the total was held back substantially by a sharp drop in government employment.

Nonfarm payrolls rose by just 194,000 in the month, compared with the Dow Jones estimate of 500,000, the Labor Department reported Friday. The unemployment rate fell to 4.8%, better than the expectation for 5.1% and the lowest since February 2020.

[…] “This is quite a deflating report,” said Nick Bunker, economic research director at job placement site Indeed. “This year has been one of false dawns for the labor market. Demand for workers is strong and millions of people want to return to work, but employment growth has yet to find its footing.” (read more)

[INFLATION] is terrible for wage earners in the U.S. who are now seeing no wage growth and higher prices. Real wages are decreasing by the fastest rate in decades. We are now in a downward spiral where your paycheck buys less. As a result, consumer middle-class spending contracts. Eventually, this means housing prices drop because people cannot afford higher mortgage payments.

Gasoline costs more (+50%), food costs more (+10% at a minimum) and as a result, real wages drop; disposable income is lost. Ultimately this is the cause of Stagflation. A stagnant economy and inflation. None of this is caused by COVID-19. All of this is caused by economic policy and monetary policy sold under the guise of COVID-19.

Hillary Clinton Heckled as “War Criminal” During Chancellor Invocation Ceremony at Queens University in Belfast


Posted originally on the conservative tree house on September 25, 2021 | Sundance | 148 Comments

Hillary Clinton was feeling very full of herself yesterday as she was invoked as the first women’s chancellor at Queens University in Belfast, Northern Ireland.  However, a large protesting crowd was not so happy.  WATCH:

Hillary was being heckled by the far-left group Lasair Dhearg.

If Greta Thunberg and Damien from The Omen had a child…

Wait Until He Gets to The Vaccine


Posted originally on the conservative tree house on September 25, 2021 | Sundance | 221 Comments

He’s got a long way to go.  But he’s slowly getting there, and he’s bringing his audience with him.  Russell Brand discovers “Russia-Gate“:

The Trump-Russia investigation was based on a fraudulent premise, purposed for use by a weaponized and politicized intelligence apparatus including the CIA, DoS, DOJ and FBI.  It is also the origin of the feces that holds the greatest risk to those who constructed the surveillance operation.

Some of the intentional misinformation stems from intelligence officials telling direct lies (ex. telling President-elect, and President Trump he was not under investigation).  Other aspects were lies of omission surrounding the Steele Dossier during the January 6th, 2017, intelligence briefing session with the President-elect in Trump Tower.

There were many misleading and false statements, with varying scales of severity, during the period from November 9th, 2016, through 2017.  The FBI, DOJ, ODNI, CIA and intelligence officials were intentionally not being direct and honest with President Trump and key members of his new administration.  Obviously their lack of honesty was a serious issue, and in some cases had serious ramifications.

The expressed finding by Robert Mueller’s two-year probe of ‘no Trump-Russia collusion, no Trump-Russia conspiracy, and no Trump-Russia obstruction’, led to some hindsight reviews by media voices where they attempted to pretend they did not know the real origination of the narrative.

However, there was also a trap laid here.  At 12:15pm, on January 20th, 2017, Obama’s outgoing National Security Advisor Susan Rice wrote a memo-to-self.  Many people have called this her “CYA” (cover your ass) memo, from the position that Susan Rice was protecting herself from consequences if the scheme against President Trump was discovered.  Here’s the email:

“On January 5, following a briefing by IC leadership on Russian hacking during the 2016 Presidential election, President Obama had a brief follow-on conversation with FBI Director Jim Corney and Deputy Attorney General Sally Yates in the Oval Office. Vice President Biden and I were also present.
President Obama began the conversation by stressing his continued commitment to ensuring that every aspect of this issue is handled by the Intelligence and law enforcement communities “by the book“.

The President stressed that he is not asking about, initiating or instructing anything from a law enforcement perspective. He reiterated that our law enforcement team needs to proceed as it normally would by the book.

From a national security perspective, however, President Obama said he wants to be sure that, as we engage with the incoming team, we are mindful to ascertain if there is any reason that we cannot share information fully as it relates to Russia.

[Redacted Classified Section in original release: “Director Comey affirmed that he is proceeding “by the book” as it relates to law enforcement.” … “Comey said he does have some concerns that incoming NSA Flynn is speaking frequently with Russian Ambassador Kislyak.”  “Comey said that could be an issue as it relates to sharing senssitive information.”  “President Obama asked if Comey was saying that the NSC should not pass sensitive information related to Russia to Flynn.”  “Comey replied “potentially.””  “He added that he has no indication thus far that Flynn has passed classified information to Kislyak, but he noted that “the level of communication is unusual.”]

The President asked Corney to inform him if anything changes in the next few weeks that should affect how we share classified information with the incoming team. Corney said he would.”

Susan Rice ~ (pdf link)

As stated, many have looked at this as a “CYA” memo, but that’s not what this is.

This is a justification memo, written by an outgoing National Security Advisor Susan Rice, to document why there have been multiple false and misleading statements given to the incoming President Trump and all of his officials.

This is not a “CYA” memo, this is a justification memo for use AFTER the Trump-Russia collusion/conspiracy narrative collapsed; if the impeachment effort failed.
The “By The Book” aspect refers to President Obama and Susan Rice being told by CIA  Director John Brennan, FBI Director James Comey, Director of National Intelligence James Clapper, and Deputy Attorney General Sally Yates, that President Trump was the subject of an active counterintelligence investigation to determine if he was under the influence of the Russian government.

Even the timing of the memo, written 15 minutes prior to the end of the Obama administration, is ex-post-facto useful as evidence of the author’s intent.

Put aside the nonsense aspect to the origination of the investigation for a moment; that part doesn’t apply here.   Accept their position ‘as if’ it is substantive.

We are talking about Brennan, Comey, Clapper and Yates telling President Obama and NSA Susan Rice that President-elect Trump is under a counterintelligence investigation where the suspicion is that Donald J Trump is an agent of a foreign power.

Under the auspices (fraudulent though it may be), the incoming President is a counterintelligence investigation target. A potentially compromised Russian asset. Under this auspices all of the officials would be permitted to lie and mislead their target, so long as they did so “By The Book.”

That’s their justification for a lengthy series of lies and false statements.

That’s why FBI Director James Comey can lie to the President and tell him he’s not the target of the ongoing Russia investigation.  That’s the justification for keeping the accusations inside the Steele Dossier (remember, the Dossier is evidence) from the President-elect.  That’s the justification for all of the officials to lie to President Trump, and even mislead the media if needed.

The Susan Rice email is one big Justification Letter; setting the stage for all of the participants to have a plausible reason for lies to anyone and everyone.
Call out John Brennan for telling Harry Reid about the Steele Dossier during his gang-of-eight briefing, but not telling Go8 member Devin Nunes about it.  Brennan escapes by saying Nunes was on the Trump transition team; and briefing a conflicted politician on the dossier would have compromised the FBI investigation.  See how that works?

Call out James Comey for lying to President-elect Trump during the January 6th Trump Tower meeting…. Comey escapes by saying Trump was a target of the FBI investigation for potential compromise as a Russian asset; informing the target of the evidence against him would have compromised the investigation. See how that works?

Every lie, every omission, every false and/or misleading statement, must first be filtered through the “By The Book” prism of Trump being considered a Russian asset.  This is the justification trap democrats are waiting to exploit for maximum damage and diminishment of counter attack.

The “By the Book” justification, where every action could have been taken because Trump might have been an actual Russian operative, is the weapon under the camouflage tarp as the radical left lures in their political opposition.  They shrug their shoulders and say in condescending voices: ‘Well, we didn’t know; we had to be prudent‘, etc.

Getting outraged about the Obama administration’s lies, misstatements and fabrications can backfire if you don’t first think about it from their constructed frame-of-reference.

The “By the Book” framework is based on a false premise; but the action, just about any action, taken to mislead (even undermine) the incoming administration is excusable under this carefully crafted justification memo.   That’s exactly why Susan Rice wrote it; and each of the participating members knows they can use it, when needed.

However, during an interview on April 26, 2019, former Deputy National Security Advisor to President Obama, Ben Rhodes, told a journalist the Obama White House didn’t even know there was an FBI investigation into President-elect Trump or Michael Flynn.  WATCH:

If the White House didn’t know about an FBI investigation into Michael Flynn (per Ben Rhodes), then how does President Obama tell the FBI to conduct their investigation “by the book” according to Ben Rhodes’ boss, National Security Advisor Susan Rice?  See the basic problem that remains?

Arizona Senate Hearing on Results From Maricopa County Audit – 4:00pm EST Livestream Links


Posted originally on the conservative tree house on September 24, 2021 | Sundance | 368 Comments

Today the Arizona Senate will release its long-awaited audit report of the 2020 election in Maricopa County, AZ.  Senate President Karen Fann, and Senate Judiciary Committee Chairman Warren Petersen, will receive the report on the Senate floor at 1:00pm local / 4:00pm EST, followed by a detailed discussion of the report findings.

Keep in mind, the AZ website is likely to get swamped by viewers, and there are likely to be massive numbers of leftist cyber trolls attempting to disrupt the broadcast.  That said, the links and embeds to livestreams are below.   The primary AZ Video Link is HERE

RSBN YouTube Livstream LINK – RSBN Rumble Livestream Link – AZ Senate Hearing Link

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Crocodile Done Dee


Posted originally on GrrrGraphics.com on SEP 23, 2021 AT 11:45 AM

Crocodile Dundee has long been a well-loved figure here in America. He represents freedom and confidence. Most Americans feel an amity with Australians and it bothers us to see them oppressed by the jaws of tyranny. Covid has been used as an excuse to cancel their freedoms. They no longer have freedom of movement. They are tracked, monitored, controlled, and insulted. Their freedom of speech is squelched. And, of course their firearms were confiscated. Walkabout Creek has been replaced with the Lock ‘Em Up Swamp.

The words “New World Order” has already been used by their top politicians, who have sent out uniformed thugs to put down rightful protests. Australians are getting the Great Reset whether they like it or not. Their Prime Minister, Scott Morrison is on the same page as Joe Biden. Dementia Joe called the Australian leader “The fella from down under.” Both leaders want to destroy freedom.

The globalist oligarchs want to repeat Australia’s fate here in the US. Our freedom of speech is being compromised. All the ‘authorities’ have to do is label free speech as ‘misinformation’ and delete our voices. They don’t bother to refute solid evidence. Instead they’ll merely claim it’s misinformation.

Our freedom of movement is under attack. The tyrants won’t give up on their vaccine passports. Our most important freedom must not be given up—ever. That’s the 2nd Amendment. Australians lack that right and you now see how the tyrants are completely unafraid of their own people.

Our best wishes to the protesters and freedom fighters down under.

— Ben Garrison

Are Former Communist Countries the Only Sensible Places?


Armstrong Economics Blog/Disease Re-Posted Sep 24, 2021 by Martin Armstrong

The head of Croatia fires back against a brainwashed journalist complaining that Croatia is only 50% vaccinated compared to the EU. He responds that 50% is enough. He straight-up states: “We need to know what the goal of this frenzy is!” Journalists are aiding Bill Gates and others, terrorizing the people over a virus, with a death rate under 1%, that was perhaps created in a lab to help this agenda. What is going on? We are nearing two years of this panic. The goal of eradicating this virus is absurd when it crosses from animals. That type of virus can NEVER be eliminated just like the flu or the common cold. This is just bullshit, which then clearly raises the question: What is the goal?

He said he starts the day with CNN and it makes him wonder if he is “normal or are they crazy?” He plainly stated the CNN “spreads panic,” and honestly, if I were president, I would shut CNN down and arrest all of the journalists pumping out this fear for nothing but profit. They are a national security risk and have graduated to a security risk for the entire world.

There are no investigative journalists left it seems. Just ask any specialist why they cannot cure the flu or the common cold. ANY virus that has an animal reservoir cannot be eliminated. I simply searched: “Can a virus that exists in animals ever be eradicated?” Below are the top results. I cannot believe that journalists have abandoned humanity to support Fauci, Gates, and Schwab who promote outright lies. Vaccinating the entire world will not eradicate COVID. It turns out that 40% of the deer population now has antibodies against COVID. Proof of what I am saying is that zoos are out to vaccinate the animals against COVID. So why is CNN and others terrorizing the world about COVID that has less than a 1% death rate? They are aiding the destruction of the world economy, which has begun a wave of inflation. Global food shortages threaten to kill far more people than COVID ever did. Are journalists deliberately becoming psychopaths? I would certainly argue that is the case at CNN. It takes less than five minutes to determine this has been one major lie!

White House Announces DHS No Longer Permitting Border Patrol to Use Horses


Posted originally on the conservative house on September 23, 2021 | Sundance | 187 Comments

White House propagandist and narrative engineer Jennifer Psaki informed reporters today that border patrol officers in Del Rio, Texas, would no longer be allowed to use horses during their border security operations.

A mounted border patrol officer looks like a cowboy.  Cowboys are racist symbols of oppression and represent the principles of a sovereign America.  This optic is an unapproved worldview of the open border society ideologues currently occupying the U.S. government.   Also, most mounted border patrol officers are Latino.

Deadline Monday, NY Governor Announces All Healthcare Workers Who Refuse Mandatory Vaccine Will Be Replaced With Foreign Workers ASAP


Posted originally on the conservative tree house on September 23, 2021 | Sundance | 409 Comments

The deadline for New York healthcare workers to take the mandatory COVID-19 “vaccine” is Monday.  A significant number of nurses, healthcare workers and those who work within the entire system of healthcare will be leaving the medical industry as a result.

While the potential vacancy rate for healthcare workers is yet undetermined -they have to wait to see how many actually leave- New York Governor Kathy Hochul announced earlier today that foreign workers will be hired to replace the U.S. workers who refuse the vaccine.

In a semi-related note, controversial New York Health Commissioner Harold Zucker -a former defender of Andrew Cuomo- announced his resignation a few hours before Governor Hochul made the announcement about replacing missing NY healthcare staff with foreign workers.  The announcement comes at 22:58 of the video below, in response to the question about both issues.  WATCH:

Kathy Hochul says the number of vaccine “holdouts” is unknown.  She has meetings scheduled for the next few days in an effort to be prepared.  She is also looking for ways to “change the healthcare licensing system” to permit out-of-state workers to help fill the void.  However, the NY legislature removed most of the unilateral authority to act under the current declared emergency, so the governor publicly says she is restricted in her authority but is “looking at ways to get around that.”

Keep in mind, the workers in question are not just nurses and direct healthcare providers; the mandate applies to everyone in the healthcare system including: clerical staff, billing offices, coders, janitors, receptionists, technology or IT staff, communication staff, cooks and cafeteria workers, in essence – everyone in the industry.